BSA Specialist

What You’ll Be Doing

• Responsible for reviewing and researching Member transactions to identify and report suspicious activity.
• Performs daily review, monitoring, and analysis of various reports, logs, and transaction data.
• Identify trends, unusual activity, and monitor large day-to-day account activity.
• Determine if transactions are suspicious in nature.
• Utilize BSA/AML automated system and various reports to identify suspicious activity and perform moderately complex investigations.
• Identify Bank Secrecy Act issues such as money laundering, terrorist financing, internal / external fraud schemes, structuring, and illegal money service business activity.
• Demonstrate proficiency in investigative practices associated with an experienced investigator (conduct interviews, collect data, compile documentation and evidence, maintain accurate notes, develop initial and ongoing reports of investigations, prepare comprehensive, accurate and timely Suspicious Activity Reports).
• Review and investigate OFAC alerts for a determination of actual OFAC match or false match.
• Respond to OFAC related questions from branches and various departments.
• Conduct enhanced due diligence searches on high-risk accounts and entities.
• Maintain the credit union’s centralized list of customers exempt from large currency transaction reporting requirements.
• Research current laws and regulations through government and other journals, publications and manuals.
• Read, research, interpret and generally stay abreast of the requirements of the Bank Secrecy Act.
• Assist in preparing documentation for and coordination of audits and examinations by regulatory agencies.
• Aid team members with specific BSA and OFAC related questions.

Qualifications

• High School Diploma or GED required.
• Bachelor's Degree in a related field or equivalent years of experience required.
• 1-3 years of prior relevant experience required.
• CAMS – Certified Anti Money Laundering Specialist preferred.

Knowledge, Skills, And Abilities

• Entry level knowledge in BSA, AML, CIP and OFAC laws and regulations, and related best practices required.
• Knowledge of concepts, practices and compliance techniques for the financial services industry.
• Ability to understand complex legal and regulatory issues and laws.
• Understanding of methodologies for researching and analyzing compliance issues.
• Understanding of reporting requirements of various regulatory agencies.
• Ability to apply concepts such as fractions, percentages, ratios, and proportions to practical situations.
• Familiarity with Symitar system and reports a plus.
• Familiarity with anti-money laundering applications preferred.

Pay

The pay range for this position is $29.79 - $44.68 per hour.

Schedule

Scheduled Weekly Hours: 40